<p>What is the REAL salary of a lawyer?
It seems like people want to become lawyers to become "rich"
but doing some search on the internet revealed that lawyers
"make" only around $100,000 a year....so what really is
the salary of a lawyer?</p>
<p>It depends on what field of law you end up in, and how much you can earn. My friend's daughter who just graduated with very high grades (that counts a lot!!!) snagged a job with a major firm that has started her at about $160K. Phenomonal, for someone out of school, and if she makes partner at this prestigious firm the sky is the limit. But it will be brutal hours, tough work. I another young man I know is not making that much right now as he has a clerkship with a judge for a year, but I hear that the offers are rolling in, as it is a prestigious position that he has. THe DA's office also does not pay that much but builds important connections. Those that join a smaller private practice get what they earn in terms of clients they can get. Some such attorneys in those practices make a fortune, others do not, just like in any business you may own and run. I know corporate attorneys who are paid in line with the companies that they represent and and are in. There are many attorneys I know who work part time also, particularly in fields like tax, estate, real estate and other specialties.</p>
<p>As a lawyer, then is it likely to live comfortably...as in have a good salary?</p>
<p>To the OP --
You should probably search this forum for the multitude of posts on this very subject. There are threads on the cost of attending law school versus actually ability to pay those loans on your starting salary, what fields and cities pay what salaries, etc. There is lots of information already here, and you are unlikely to motivate many of the regular posters here to chime in with responses on topics that have been much discussed in the recent past.</p>
<p>Here is an interesting way of calculating career success in law. Keep in mind that it is only a very rough guideline and also for amusement/fun purposes:</p>
<p>IMO, there are 3 key factors to law hiring success. </p>
<ol>
<li><p>Law School Ranking</p></li>
<li><p>Grades/Class Ranking</p></li>
<li><p>Physical attractiveness</p></li>
</ol>
<p>Rank each one on a scale of 3.
1. Law School Ranking:
4 tiers @ 0.75 points per tier. e.g. Tier 1 = 3, Tier 2 = 2.25 Tier 3 = 1.5, Tier 4 = 0.75 </p>
<ol>
<li>Grades:</li>
</ol>
<p>Convert your class % to 3 scale: i.e. top 10% = 2.7 etc.</p>
<ol>
<li>Physical attractiveness:
Like it or not, attractive people get hired first in our society and make more money too. Assess your physical attractiveness and put it on a 3 scale. I.e. slightly more attractive than the pack = 1.7. Of course, this could take other factors such as personality, general charisma, charm etc...</li>
</ol>
<p>Add the above and put it on a 9 scale. You likely need 6.7 to 7 to get into a top law firm. </p>
<p>Divide your score by 9 and multiply by $180,000 to guessitimate your starting salary. </p>
<p>Example:</p>
<p>Tier 2 law school, top 20% and reasonably attractive person:</p>
<ol>
<li><p>2.25</p></li>
<li><p>2.4</p></li>
<li><p>1.8</p></li>
</ol>
<p>total = 6.45 & salary = $129,000.</p>
<p>Interesting and fun formula -- I tried it with a few variables, and each time I ended up with a number that seemed good. I'd qualify it a little further, though, by saying that this formula might be more accurate for larger cities. Small cities/towns swing downward, just as the cost of living drops down too.</p>